China’s cabinet agreed to revive financial incentives for
consumers to trade in their passenger cars to help increase
demand in the world’s biggest vehicle market, a government
official said yesterday. The State Council approved a cash-for-clunkers plan last week and relevant ministries are working on
details, said the official, who asked not to be identified
because the matter hasn’t been made public.

China will subsidize use of energy-saving products,
including flat-panel televisions and air-conditioners, the
Ministry of Finance said in a statement on its website
yesterday.

Pang Da Automobile Trade Co. (601258 CH), China’s biggest
listed auto dealer, jumped 9.9 percent to 7.63 yuan, the most
since Feb. 29. The company said it will form a joint venture to
sell Mercedes-Benz cars in China.